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I have a 1997 Indy Classic Touring 500 and a 1998 Indy Classic 500. They're the same sled with the exception of the graphics and some carb settings (for some reason, Polaris used different carbs on the Classics and Classic Tourings).

Anyway...

When I start the 97, the headlight is dim and flickers. This is not the case on the 98. It will get better when the RPMs come up, but I'm still not sure that it's right.

The other thing is that I had two running lights in the rear that were blown and my speedo light is out. I'm wondering if this might be a case of bad luck (multiple lights being out at the same time), a bad regulator, a bad stator, or something else entirely.

Voltage regulator, very common problem on Polaris sleds. Here is a simple test to confirm the regulator

Regulator is located on the right hand foot well of the sled. While sled is running, unplug the lead going to the regulator. At this point, all of the lights should come on and the flickering should stop.

DO NOT REV THE ENGINE WHILE THE REGULATOR IS UNPLUGGED OR YOU WILL BLOW OUT EVERY BULB ON THE SLED.

Thanks. I'll have to get the sled out from it's "buried" position in the garage and check it out.

If it turns out that unplugging the regulator doesn't "do" anything... What should I check next?

FWIW: 1997 Classic Touring with about 6k miles. I've rebuild the carbs, installed all new jets, float needles / seats, gaskets, cleaned everything and dropped the needle clip one position to richen the mid-range a bit.

I also verified the carb sync, re-set the idle, and rebuilt the fuel pump. It idles around 1500-1600 and revs nice and smooth. Clutch engages right around 4200 (where it should be) and the belt is in good shape. Deflection and offset look pretty good. The track turns smoothly, but there is some surface rust on the track clips.

If unplugging the regulator doesn't make the lights get brighter than you have a stator problem. No need to richen up a fuji 500 anywhere. They come so fat from teh factory you have nothing to worry about.